Angolan economy to see two digit growth in 2010

30 June 2009

Lisbon, Portugal, 30 June – The Angolan economy is expected to see two-digit growth in 2010, after the government lowered its gross domestic product (GDP) forecast to 6.2 percent in 2009, Angola’s Finance Minister said in Lisbon Monday.

“In the last three years Angola’s GDP has seen average growth of 18 percent. For 2009, we had to lower growth forecasts to 6.2 percent and we hope that the economy will speed up in 2010 to around two-digit growth,” said Eduardo Severim de Morais.

Speaking on the sidelines of the first meeting of Finance Ministers of the Community of Portuguese-speaking Countries (CPLP), Severim de Morais said that a lesson could be learned from the crisis and that, “we can’t be so dependent on one single product,” such as oil in Angola.

The Angolan government is focusing on the non-oil sector in order to improve the living conditions of the population and boost Angolan exports, Severim de Morais said.

The Angolan government recently approved several programmes for the diversification of social housing – a house for everyone – in the areas of urban renewal, manufacturing industry and agriculture and rural development. (macauhub)